crazy the vol on $ pairs these last 3-4 weeks... i mean, what the hell was the mkt expecting tonite to justify such a move since bernanke's good words on monday???? hasn't trichet been abundantly clear for months??? not that i feel the move vs $ UNTIL monday was justified either but... anybody looked at any aggreg monthly turnover stats on CME eFX, Reuters etc? wonder whether this is mostly because of added hedge fund liquidity and more aggro trading, or the opposite, whether liquidity has already diminished (due to BoJ moves against free money) significantly, hence the relatively wider swings for the period? any thoughts?